SGLO.L vs. GOVD.L
SGLO.L (iShares Global Government Bond UCITS ETF USD (Dist)) and GOVD.L (Lyxor Core Global Government Bond (DR) UCITS ETF - Dist) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR USD, from iShares and Amundi respectively. Both are passively managed. Over the past 5 years, SGLO.L returned -1.81%/yr vs -1.56%/yr for GOVD.L. Their correlation of 0.92 suggests significant overlap in exposure. SGLO.L charges 0.20%/yr vs 0.09%/yr for GOVD.L.
Performance
SGLO.L vs. GOVD.L - Performance Comparison
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Returns By Period
In the year-to-date period, SGLO.L achieves a -0.79% return, which is significantly higher than GOVD.L's -26.36% return.
SGLO.L
- 1D
- -0.11%
- 1M
- 0.41%
- YTD
- -0.79%
- 6M
- -1.34%
- 1Y
- 1.82%
- 3Y*
- -0.41%
- 5Y*
- -1.81%
- 10Y*
- 0.35%
GOVD.L
- 1D
- 0.09%
- 1M
- -25.74%
- YTD
- -26.36%
- 6M
- -2.20%
- 1Y
- 0.47%
- 3Y*
- 0.21%
- 5Y*
- -1.56%
- 10Y*
- —
SGLO.L vs. GOVD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SGLO.L iShares Global Government Bond UCITS ETF USD (Dist) | -0.79% | 0.31% | -1.33% | -1.35% | -7.72% | -5.44% | -5.06% |
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist | -26.36% | 33.30% | 1.30% | -0.61% | -8.32% | -5.61% | -4.31% |
Correlation
The correlation between SGLO.L and GOVD.L is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2020 | 0.92 |
Over the past year, the correlation between SGLO.L and GOVD.L has dropped to 0.64 - well below their long-term average of 0.92, suggesting their price drivers have been diverging.
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Return for Risk
SGLO.L vs. GOVD.L — Risk / Return Rank
SGLO.L
GOVD.L
SGLO.L vs. GOVD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Government Bond UCITS ETF USD (Dist) (SGLO.L) and Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| SGLO.L | GOVD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.33 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | 0.02 | +0.44 |
| Martin ratioReturn relative to average drawdown | 0.90 | 0.03 | +0.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SGLO.L | GOVD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.37 | 0.00 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.24 | -0.02 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.04 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | -0.04 | +0.23 |
Drawdowns
SGLO.L vs. GOVD.L - Drawdown Comparison
The maximum SGLO.L drawdown since its inception was -25.55%, smaller than the maximum GOVD.L drawdown of -28.26%. Use the drawdown chart below to compare losses from any high point for SGLO.L and GOVD.L.
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Drawdown Indicators
| SGLO.L | GOVD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.55% | -28.26% | +2.71% |
Max Drawdown (1Y)Largest decline over 1 year | -4.26% | -28.26% | +24.00% |
Max Drawdown (3Y)Largest decline over 3 years | -5.41% | -28.26% | +22.85% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -28.26% | +11.78% |
Max Drawdown (10Y)Largest decline over 10 years | -25.55% | — | — |
Current DrawdownCurrent decline from peak | -22.83% | -27.56% | +4.73% |
Average DrawdownAverage peak-to-trough decline | -10.09% | -14.81% | +4.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 14.71% | -12.57% |
Volatility
SGLO.L vs. GOVD.L - Volatility Comparison
The current volatility for iShares Global Government Bond UCITS ETF USD (Dist) (SGLO.L) is 1.24%, while Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L) has a volatility of 79.65%. This indicates that SGLO.L experiences smaller price fluctuations and is considered to be less risky than GOVD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGLO.L | GOVD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 79.65% | -78.41% |
Volatility (6M)Calculated over the trailing 6-month period | 3.88% | 189.97% | -186.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.24% | 193.34% | -188.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.47% | 87.07% | -79.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.77% | 80.35% | -71.58% |
SGLO.L vs. GOVD.L - Expense Ratio Comparison
SGLO.L has a 0.20% expense ratio, which is higher than GOVD.L's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SGLO.L vs. GOVD.L - Dividend Comparison
SGLO.L's dividend yield for the trailing twelve months is around 4.16%, more than GOVD.L's 2.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist | 2.71% | 1.99% | 5.59% | 2.06% | 1.54% | 1.67% | 0.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SGLO.L iShares Global Government Bond UCITS ETF USD (Dist) | 4.16% | 3.86% | 3.15% | 1.87% | 0.95% | 0.85% | 1.35% | 1.60% | 1.37% | 1.26% | 1.34% | 0.89% |
Frequently Asked Questions
SGLO.L and GOVD.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GOVD.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GOVD.L is cheaper with a 0.09% expense ratio, compared with 0.20% for SGLO.L.
Both ETFs track Bloomberg Global Aggregate TR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.20% for SGLO.L and 0.09% for GOVD.L.
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